The Colorado Inter-Industry TRID Task Force, of which CMLA is a prominent member, has just announced the release of its Colorado TRID Recommended Best Practices document. The document is intended to help guide participants in the Residential Real Estate Industry in Colorado through the complex changes brought about by the implementation of the CFPB’s TRID rule which takes effect October 3rd of this year.

The Colorado Best Practices document is the culmination of efforts by many individuals representing the following trade associations:

The Task Force’s stated purpose in publishing these best practices is to "guide its members on best practices to help assure Colorado consumers receive the quality service they are due. This document is published to support the alignment of new requirements under the TILA-RESPA Integrated Disclosures Rule (TRID) across our industries. The goal is to minimize the impact of these broad disclosure and process changes to our members and to make the changes as seamless as possible to our consumers, while satisfying regulatory and statutory requirements established by the Consumer Financial Protection Bureau (the CFPB or the Bureau) under this Rule."

A number of our members from our CMLA Operational and Compliance Forum participated in drafting this document; thanks to all who participated and so generously donated your time and effort to this project!

We hope you will find this document helpful as you implement your final TRID policies and procedures; and, we hope it helps to guide you as you work with your other industry partners. Here’s to your successful TRID rollout!